Bank owned homes in the Traverse Bay Area

Bank Owned Homes

Although we see a limited number of bank owned homes in this area, there are some available. Almost all bank owned homes become listed and banks rarely deal directly with anyone other than a few brokerages.

Bank Owned Homes Statistics

Total Listings: 73
Average Price: $116,803
Highest Price: $849,900
Lowest Price: $19,900

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Bank Owned Homes

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000 $300,000 - $400,000 $400,000 - $500,000
$700,000 - $800,000 $800,000 - $900,000
New Listings First
18 Properties Found.
Photo of Listing #1823441

15295 Plymouth Avenue

$35,000

Thompsonville, Michigan
2 Bed, 2 Bath, 850 Sqft, 0.2 Acres
Single Family

Photo of Listing #1823405

2930 Indian Hill Road

$234,000

Honor, Michigan
4 Bed, 3 Bath, 2600 Sqft, 1.01 Acres
Single Family

8610 Skegemog Point Road

$479,160

Williamsburg, Michigan
2 Bed, 2 Bath, 1960 Sqft, 0.87 Acres
Single Family

1436 Us-31 S

$91,900

Kewadin, Michigan
4 Bed, 1 Bath, 1264 Sqft, 0.76 Acres
Single Family

9607 Eastridge Drive

$749,900

Traverse City, Michigan
6 Bed, 6 Bath, 6079 Sqft, 1.83 Acres
Single Family

2543 Langs Lane

$129,900

Interlochen, Michigan
2 Bed, 2 Bath, 1506 Sqft, 10 Acres
Single Family

6300 Lavenly Lane

$39,900

Mancelona, Michigan
1 Bed, 1 Bath, 1084 Sqft, 10.04 Acres
Single Family

Photo of Listing #1822020

4140 Evelyn Street

$59,900

Traverse City, Michigan
3 Bed, 2 Bath, 1120 Sqft, 0.21 Acres
Single Family

Photo of Listing #1821928

738 Boardman Road

$69,900

South Boardman, Michigan
4 Bed, 1½ Bath, 1136 Sqft, 1 Acre
Single Family

Photo of Listing #1819507

3849 N M-88

$46,170

Central Lake, Michigan
3 Bed, 1 Bath, 1270 Sqft, 2 Acres
Single Family

2452 Pinehurst Trail

$89,900

Traverse City, Michigan
2 Bed, 1 Bath, 872 Sqft, 0.2 Acres
Single Family

422 Washington Street

$849,900

Traverse City, Michigan
4 Bed, 3½ Bath, 3829 Sqft, 0.2 Acres
Single Family

Photo of Listing #1817771

1547 Ne M 72

$79,900

Kalkaska, Michigan
3 Bed, 1 Bath, 1392 Sqft, 1.1 Acres
Single Family

Photo of Listing #1815319

5676 S Elm Valley Road

$308,000

Suttons Bay, Michigan
4 Bed, 3 Bath, 2258 Sqft, 3.67 Acres
Single Family

Photo of Listing #1815359

5816 S West Bayshore Drive

$189,900

Suttons Bay, Michigan
3 Bed, 2½ Bath, 1953 Sqft, 1 Acre
Single Family

Photo of Listing #1809637

6570 Hillman Road

$180,000

Ellsworth, Michigan
4 Bed, 3 Bath, 2436 Sqft, 35.87 Acres
Single Family

Photo of Listing #1809365

5221 S Faculty Row

$705,900

Glen Arbor, Michigan
4 Bed, 4 Bath, 4094 Sqft, 0.77 Acres
Single Family

Photo of Listing #1808795

1951 Benzie Highway

$174,000

Benzonia, Michigan
3 Bed, 2 Bath, 2264 Sqft, 1 Acre
Single Family

More information on Traverse Bay Area bank owned homes

Bank owned and repo homes in the Traverse Bay and Traverse City area can be a great deal, however, keep in mind that not all bank owned homes are deals.  Often they have been poorly maintained and if the bank gained possession of the home during the cold months, we have often seen frozen pipes.  This is not always the case and it is definitely worth considering a bank owned home.  Whether you are looking for a waterfront bank owned home, a bank owned Traverse City condo or just want to use our advanced bank owned search, TBAR Search has all the listed Traverse City bank owned homes.

 The best way to keep up with the market and to be one of the first to know about new or revised bank owned listings is to get set up with automatic email notifications.  Just let us know what you are looking for and we can get you set up and remember, you can opt out or change your search criteria anytime.

Also, here are the answers to a few bank owned home questions.

Do banks typically take much less than list price for their Traverse City area bank owned homes?

No, most often banks will have three basic appraisals  (often referred to as BPO's  - Broker Price Opinions) and will set a list price based on a those appraisals, along with other items.  Banks will then typically accept within 5% of list price, often depending on how long it has been at that price.  The banks will most often reject offers less than that, or counter back at full price.  If the asset (home) does not get an accepted offer within 45-60 days, the bank will usually reduce the price and go through the same scenario.  With that said, we have seen banks accept much less also, so it may be worth a try if it has been on the market for a while.

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.